United State Pet healthcare Market Research Report, 2029

The United States pet healthcare market is a rapidly growing industry, driven by the increasing number of pet owners and the rising trend of humanizing pets. This growth is fuelled by several factors, including the high rate of pet adoption, especially during the COVID-19 pandemic, which saw a significant increase in households acquiring pets. Additionally, the American Pet Products Association's 2023-2024 National Pet Owners Survey reported that around 66% of U.S. households own a pet, compared to 62% in 2022. The annual expenditure on routine veterinary visits for dogs and cats also contributes to the market's expansion, with dog visits costing around USD 242 and cat visits around USD 178. The market is further supported by the introduction of new pet care products and services, rising investments in pet insurance, and strategic initiatives by key market players. Despite challenges such as the high cost of pet care, the establishment of new pet care facilities and the launch of innovative products aimed at enhancing pet well-being are expected to contribute positively to the market's growth trajectory. The history of the pet healthcare market in the United States can be traced back to the early 20th century, with the establishment of veterinary schools and the introduction of pet insurance in the 1980s. Over the years, the market has evolved significantly, driven by increasing pet ownership and the humanization of pets. Regulatory policies for the pet healthcare market are primarily governed by the U.S. Food and Drug Administration (FDA), which ensures the safety and efficacy of pet food, drugs, and devices through various acts such as the Federal Food, Drug, and Cosmetic Act (FD&C Act) and the Animal Drug Availability Act (ADAA). The FDA's Center for Veterinary Medicine (CVM) plays a crucial role in regulating and monitoring the pet healthcare industry, issuing guidelines, and enforcing compliance to protect both animal and public health. According to the research report "United States Pet Healthcare Market Research Report, 2029," published by Actual Market Research, the United States Pet Healthcare market is anticipated to grow at more than 4.72% CAGR from 2024 to 2029. This growth is primarily fuelled by the increasing pet humanization trend, where pets are treated as family members, leading to higher spending on pet care and healthcare1. The rise in pet ownership, especially among millennials, is another major driver, with 66% of households in the U.S. owning at least one pet. Key players in the U.S. pet healthcare market include Mars Inc. (Mars Petcare), Nestle (Nestle Purina Petcare), The J. M. Smucker Company, Colgate-Palmolive Co. (Hill's Pet Nutrition), Elanco Animal Health, Merck & Co. Inc., Idexx Laboratories, Zoetis, Inc., and Boehringer Ingelheim International GmbH3. These companies are investing heavily in research and development to create innovative products and services that cater to the evolving needs of pet owners. In conclusion, the U.S. pet healthcare market is on a strong growth trajectory, driven by pet humanization, increased pet ownership, and the entry of new and innovative products and services by key market players3. The market is expected to continue its upward trend, providing ample opportunities for companies to capitalize on the growing demand for pet healthcare. The COVID-19 pandemic also played a role in boosting the market, as more people adopted pets during lockdowns, leading to increased demand for pet healthcare services and products.

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Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

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The market is segmented by animal type (dogs, cats, birds, etc.), product type (food, supplies, OTC medicine), and distribution channel (supermarkets, specialty stores, online retail). Dogs are the most popular pets, accounting for a significant share of the market due to their companionship and adaptability. The pet healthcare market in the United States is segmented by product type, which includes pet food, grooming products, veterinary care, and other pet care products. Pet food is the largest segment, driven by the increasing demand for high-quality, nutritious, and specialized diets for pets. This includes dry food, wet food, and treats, with a growing trend towards natural and organic ingredients. Grooming products encompass a wide range of items such as shampoos, conditioners, brushes, and dental care products, catering to the rising awareness of pet hygiene and wellness. Veterinary care is another crucial segment, encompassing routine check-ups, vaccinations, surgeries, and emergency care. The availability of advanced medical treatments and the increasing adoption of pet insurance are contributing to the growth of this segment. Other pet care products include toys, bedding, and wearable health devices, which are gaining popularity as pet owners seek to enhance their pets' quality of life. The market is also seeing a rise in e-commerce platforms and online retailers, making it easier for pet owners to access a wide range of products and services. The pet healthcare market in the United States is segmented by animal type, with dogs and cats being the most prominent segments. Dogs account for the largest share of the market, driven by their popularity as pets and the extensive range of healthcare products and services available for them. This includes routine veterinary care, vaccinations, dental care, and specialized treatments for conditions such as arthritis and cancer. The market for dog healthcare is further supported by the availability of advanced diagnostic tools and treatments, as well as the growing trend of pet humanization, where dogs are treated as family members. Cats are the second-largest segment in the pet healthcare market, with a significant demand for veterinary care, vaccinations, and specialized treatments for common feline conditions such as dental disease, obesity, and diabetes. The market for cat healthcare is also influenced by the increasing awareness of feline health and the availability of advanced medical treatments and preventive care options. Additionally, the rise in pet insurance adoption for cats is contributing to the growth of this segment. Other animal types, such as birds, small mammals (e.g., rabbits, guinea pigs), and reptiles, also contribute to the pet healthcare market, albeit to a lesser extent. These segments are characterized by a growing demand for specialized veterinary care and products tailored to the unique needs of these pets. The market for exotic pet healthcare is expanding as more pet owners seek specialized care for their non-traditional pets. The pet healthcare market in the United States is segmented by distribution channel, which includes supermarkets/hypermarkets, specialty stores, online retail, and other distribution channels. Supermarkets and hypermarkets are a significant channel, offering a wide range of pet care products, including food, grooming supplies, and over-the-counter medications. These stores benefit from their extensive reach and convenience for consumers who can purchase pet care items alongside their regular groceries. Specialty stores, such as Petco and Pet smart, provide a more focused selection of high-quality pet products and services, including premium pet food, grooming services, and veterinary care. These stores often offer expert advice and personalized service, attracting pet owners who seek specialized care for their pets. Online retail is rapidly growing, driven by the convenience of shopping from home and the availability of a vast selection of products. Major online retailers like Amazon, Chewy, and Petco.com have captured a significant share of the market, offering competitive pricing, home delivery, and subscription services for pet food and supplies. The rise of e-commerce has also enabled smaller, niche brands to reach a broader audience. Other distribution channels include veterinary clinics and hospitals, which provide direct access to professional healthcare services and products. These channels are essential for ensuring pets receive timely and appropriate medical care.

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Nikita Jabrela

Business Development Manager

Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Pet Healthcare market with its value and forecast along with its segments • Country-wise Pet Care market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product • Pharmaceuticals • Nutritional Products • Diagnostic • Vetinary services • Others

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By Animal Type • Dog • Cat • Others By Distribution channel • Vetinary clinics • Retail pharmacy • Online store • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Pet Care industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.